The Stock Market Is Not The Economy

The unemployment numbers came out today:
3.3 million Americans filed for unemployment. This is by far the most in history, including the Great Depression and 2008 recession.

Today, the United States government decided to bail out:

Airlines - Took all their free cash flow and bought back their own shares, helping the airline CEOs become extremely rich. The CEOs of the Big 4 airlines received $430 million in stock-based compensation over this period, separate from their cash compensation, deferred benefits, etc.

Boeing - 737 Max was a complete disaster. Boeing also played the buy-back game: Dennis Muilenburg pocketed $170 million from Boeing in stock-based comp and 'incentive awards'.

Hotels - Hilton announced $2 billion stock buyback on March 3.

Cruise Lines - Avoided US taxes and U.S. safety regulations by registering their vessels abroad. Here is a great article explaining these shitbirds by the Hustle.

Oh, but, American's will get $1,200 for their troubles.